Riverside South
Canary Wharf has recently successfully concluded the prelet/presale of massive bespoke head offices at 20 Churchill Place (CP, State Street), 5 CP (Bear Stearns), and 15 Canada Square (KPMG). The vacancy rate in the estate now stands around its 'natural rate' or 4%-5%.
Meanwhile Canary Whard indicated in their latest interim result they will start construction on Riverside South when and as market conditions permit. These conditions are now fullfilled to kickstart the speculative building of Riverside South.
Riverside South is the largest single office european development (around 300,000 sqft gross). It needs its own electricity substation (see map herebelow).
EDF ('Electricité de France'), French electricity giant has been awarded the contract 'to allow the Westferry Circus Substation capacity to be increased to cater for the increasing demand in the area, in particular the proposed Riverside South development'. Works on the substation are due to start yet in 2006 for a delivery date in 2009 to match the possible delivery date of Riverside South in 2009. Canary Wharf has not yet given precise date for starting the construction of Riverside South but it is believed construction could start as early as April 2007.
Edit: Below are the latest renderings, as of August 2008:
- wjfox
Canary Wharf has recently successfully concluded the prelet/presale of massive bespoke head offices at 20 Churchill Place (CP, State Street), 5 CP (Bear Stearns), and 15 Canada Square (KPMG). The vacancy rate in the estate now stands around its 'natural rate' or 4%-5%.
Meanwhile Canary Whard indicated in their latest interim result they will start construction on Riverside South when and as market conditions permit. These conditions are now fullfilled to kickstart the speculative building of Riverside South.
Riverside South is the largest single office european development (around 300,000 sqft gross). It needs its own electricity substation (see map herebelow).
EDF ('Electricité de France'), French electricity giant has been awarded the contract 'to allow the Westferry Circus Substation capacity to be increased to cater for the increasing demand in the area, in particular the proposed Riverside South development'. Works on the substation are due to start yet in 2006 for a delivery date in 2009 to match the possible delivery date of Riverside South in 2009. Canary Wharf has not yet given precise date for starting the construction of Riverside South but it is believed construction could start as early as April 2007.
Edit: Below are the latest renderings, as of August 2008:
- wjfox